Wall Street is skeptical of GM's plans regarding EV profits and revenue growth amid supply chain problems and broader economic concerns.
DETROIT – Wall Street is skeptical of General Motors' plans to produce profitable electric vehicles years ahead of schedule and substantially bring down battery costs amid supply chain problems and broader economic concerns.
Wells Fargo says it expects costs of batteries with similar materials to cost about $151/kWh. Other GM announcements included expectations of revenue to increase at a 12% compound annual rate to more than $225 billion, including $50 billion from EVs, in 2025; outline of its products by 2025; and confirmation of previously announced 2030 targets. GM on Thursday also raised its guidance regarding free cash flow and narrowed its earnings expectations for 2022.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SFO is the Nation’s Best Large Airport, According to the Wall Street JournalThe Bay Area has some of the best airports in the nation, according to The Wall Street Journal.
Read more »
Wall Street drops as hawkish Fed official comments weighWall Street's main indexes ended modestly lower on Thursday in a choppy session as hawkish comments from a U.S. Federal Reserve official and data showing the labor market remained tight led some investors to worry about more aggressive interest rate hikes.
Read more »
Asian markets mixed after Wall Street falls on rate-hike worriesAsian stocks were mixed Friday after Wall Street declined following indications the Federal Reserve might raise interest rates higher than expected to cool...
Read more »
Republicans to Wall Street: We’re so over youRepublican lawmakers, who will be in the House majority come January, are pressing party leaders to send a message to big financial firms: Stop appeasing the left with “woke” business practices, keep financing fossil fuels and cut ties with China.
Read more »
Wall Street Sours on Coinbase, Signaling Broad Crypto DoubtsThe prices of the exchange’s stock and bonds reflect anxieties after the collapse of rival FTX and sharp declines in bitcoin.
Read more »